What is a Governance Process?
Governance processes, as defined by the Institute of Internal Auditors, are the procedures utilized by representatives of an organization’s stakeholders that provide oversight of risk and control. Governance processes are supervised and regulated by stakeholder management teams and other executives.
Process governance allows businesses to consolidate and regulate tasks, workflows, and procedures that standardize project execution. This aims to ensure the smooth delivery of objectives for both managers and clients.
Process governance includes activities relating to developing, launching, controlling, and reviewing policies, guidelines, and technology adoption frameworks that guide process management practices within an organization.